Bitcoin Casinos – How Safe Are They?

Some industry watchers believed Bitcoin and online casinos are a match made in heaven; the reason at a closer look is not far-fetched.

You see, the gambling industry has struggled for a long time to get rid of a long history smeared in bad rep and publicity. And players over time have learned to seek out discreet, secure and safe gaming houses to satisfy their itch.

So, it is not surprising that the gaming industry was the first couple of businesses to adopt Bitcoin and its underlying Blockchain technology in their operation.

Now with several casinos running on Blockchain technology players can be safe in the knowledge that their personal information, transaction histories, and banking details are secure, encrypted, and anonymous.

What is a bitcoin casino?

These are new generation online casinos that rely on Blockchain technology and cryptocurrency such as Bitcoin to handle deposits and withdrawal on their platform.

In other words, the player has to fund their account using digital currency and also withdraw their winnings as a cryptocurrency. No need for fiat currencies, no need for financial houses.

This obviously benefits both the operator and gamer. One of such benefits is the elimination of transaction fees.

Now, for online casino operators using traditional payment platforms, they often pay a transaction fee for each transaction conducted on their system; these extra charges are often shifted to the final gamers.

Compare that to the Bitcoin casinos with little to no transaction fees. The operator can offer more enticing mouthwatering perks like improved welcome bonuses, side freebies, and the player doesn’t have to pay any transaction fees too.

Another attractive feature of a bitcoin casino is the opportunity for anonymity. You see, when a player decides to enjoy a game on conventional online casinos, they are often required to fill in personal details like banking information, names, contact addresses, and perhaps other personal identification information.

That’s not the case playing a bitcoin casino; you are only required to provide an email address that way your privacy is protected.

That said it is essential to note that you’re likely to encounter any of these three types of bitcoin casinos online.

One, there’s the full bitcoin casinos – these allow you to play anonymously with Bitcoin as currency only. They don’t have options for other payment methods.

Then, there are the hybrid online casinos – these lists bitcoin as one of the payment options available. You can deposit, play, and withdraw using the digital currency.

Finally, there are the online casinos that accept bitcoin deposits then convert it to fiat currencies to play with. They don’t support Bitcoin withdrawal.

But, how does bitcoin casinos work?

Just like traditional casinos, a bitcoin(BTC) powered casino needs a system to handle and process its transaction; and a medium to accept deposits.

However, instead of the regular fiat currencies – think: dollar, Euro, Yen, pounds, get the idea? The platform uses digital money but in this case, Bitcoin.

Also, most bitcoin casinos, especially for those with a large user base, operate the self-developed software. These programs manage and run the game, even taking on the role of dealers for all-human games.

Are they safe?

Be rest assured, your private information is safe and also your activities are anonymous. However, concerns exist about whether bitcoin casinos are fair or not; this arises from the fact that both the operators and users are anonymous and can hardly be tracked.

To address the challenge of fairness, build trust and show transparency, most of these operators publish how their algorithm works and how the random number generator operates – this way anyone that cares can run a check on the website.

In conclusion

Digital currencies have come to stay, and with the rave for foolproof security measures online, businesses including online casinos will have no choice but to adopt or integrate the technology with their platform.

For players searching for a bit more discretion, Bitcoin casinos offer the best option

If you aren’t fully convinced with Bitcoin as a method you want to use take a look at our other casino payment options here.

Best Payment Methods at a Low Deposit Casino

A critical concern most online casino players have is whether they can deposit and make withdrawals from their casino accounts effortlessly – and also whether the available payment options are flexible enough to allow them to fund their account regardless of the amount.

For most casinos, however, they offer a variety of banking solutions that ensure every one of their patrons’ needs is met.

But, unfortunately, these payment portals often have hefty transaction fees that limit the amount a player can deposit; this is especially true for gamers wanting to fund their casino account with just the minimum deposit.

To illustrate this, imagine that you want to fund your casino account with the minimum deposit accepted by your platform; let’s say – £5. And to use any of the banking methods available on the gaming website; you’d have to pay a transaction fee of £1.04.

Now, that leaves you with only £3.06, this amount as you can see is not enough to play. So, what do you do?

Up Your Hand or Source a Low Deposit Casino

Well, the option open to you is to either increase your betting fund – that is assuming you’re not on a tight budget and is flushed with cash. Or, research low deposit casinos that allow you to fund your casino account with minimum funding with no or smallest possible transaction fee.

The second option seems more plausible. Thankfully, there are banking solutions that are integrated with low deposit casinos.

Now, there are a number of reasons you would want to play at low-stakes online casinos; however, the chief among them would be the chance to play a variety of games with a small wager.

Another reason could be so you can extend your gameplay time; spend more time enjoying the game while also having reserve bankroll and a chance of hitting it big instead of going big and losing all at once.

So, what are the best banking methods to use at a low deposit casino?

• • NETELLER

This e-payment solution was created specifically for the online casino playing the market. Its growing popularity over the years, ease of use, and the hassle-free quick transaction – both for deposits and withdrawals – makes it a preferred channel by most online casino operators.

In addition, the payment method is recognized in over 30 countries, has an enticing bonus reward for using it, and a superb support team on hand to help with your concerns.

• • PayPal

PayPal is undoubtedly the undisputed leader when it comes to online casino payment methods. Widely accepted all over the world with millions of users scattered across 190 countries and regions it offers a safe, secure, fast, and instant way to deposit and make withdrawals.

To use PayPal as your preferred banking option, you need an account with them; then link up your bank details or credit card.
So, when you want to play on your favourite casino, all you have to do is transfer money to your PayPal account then use the money to play.

• • Skrill

If you are interested in a fast payout then, you may want to consider using Skrill. Previously known as Moneybookers, this e-wallet is just as popular as PayPal and has one of the instant payment features in the market – your deposit appears almost immediately in your account.

Also, you can easily deposit as low as £1 which makes it an excellent banking option for low deposit casinos.

• • Prepaid Cards

These are the ideal alternative for players without credit cards or uncomfortable filling out their credit details online. There are several cards available including Ukash, PaySafe Card, and EntroPay.

Each of these cards processes transactions almost immediately while also providing anonymity for players that would want to keep their online activities secret.